XML 27 R15.htm IDEA: XBRL DOCUMENT
v3.21.2

Note 6 - Goodwill and Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2021
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 6. Goodwill and intangible assets Goodwill Goodwill represents the difference between the purchase price and the estimated fair value of identifiable assets acquired and liabilities assumed. Goodwill acquired in a business combination is determined to have an indefinite useful life and is not amortized, but instead is tested for impairment at least annually in accordance with ASC 350. The Company has not identified any triggering events which indicate an impairment of goodwill in the six months ended June 30, 2021. Intangible assets Intangible assets, net consisted of the following as of June 30, 2021:
(In thousands, except weighted average useful life) |  | June 30, 2021 |  |  |  |  |
Finite-lived intangible assets: |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted Average Useful Life (in years) |
Customer Relationships |  | $ | 15,240 |  |  | $ | (766 | ) |  | $ | 14,474 |  |  |  | 12.1 |
Tradenames |  |  | 33,250 |  |  |  | (1,075 | ) |  |  | 32,175 |  |  |  | 14.6 |
Technology - acquired |  |  | 37,810 |  |  |  | (4,909 | ) |  |  | 32,901 |  |  |  | 6.2 |
Non-compete agreements |  |  | 1,900 |  |  |  | (176 | ) |  |  | 1,724 |  |  |  | 3.3 |
In-process research and development⁽¹⁾ |  |  | 67,440 |  |  |  | - |  |  |  | 67,440 |  |  |  | N/A |
Total intangible assets |  | $ | 155,640 |  |  | $ | (6,926 | ) |  | $ | 148,714 |  |  |  | 10.5 |
(1) In-process R&D represents the fair value of incomplete research and development that has not yet reached technological feasibility. We will amortize the asset upon technological feasibility. Intangible assets, net consisted of the following as of December 31, 2020:
|  | December 31, 2020 |  |  |  |  |
Finite-lived intangible assets: |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted Average Useful Life (in years) |
Customer Relationships |  | $ | 8,220 |  |  | $ | (330 | ) |  | $ | 7,890 |  |  |  | 12.8 |
Tradenames |  |  | 6,610 |  |  |  | (508 | ) |  |  | 6,102 |  |  |  | 14.0 |
Technology - acquired |  |  | 19,670 |  |  |  | (3,232 | ) |  |  | 16,438 |  |  |  | 7.1 |
Non-compete agreements |  |  | 660 |  |  |  | (41 | ) |  |  | 619 |  |  |  | 3.8 |
Total intangible assets |  | $ | 35,160 |  |  | $ | (4,111 | ) |  | $ | 31,049 |  |  |  | 9.7 |
Amortization expense for finite-lived intangible assets was $1.9 million and $2.8 million for the three and six months ended June 30, 2021, respectively, and $706,000 and $1.4 million for the three and six months ended June 30, 2020, respectively. As of June 30, 2021, the Company expects to record the following amortization expense:
(In thousands) |  |  |  |
For the Years Ending December 31, |  | Estimated Amortization Expense |
2021 (6 months remaining) |  | $ | 4,713 |
2022 |  |  | 9,426 |
2023 |  |  | 9,396 |
2024 |  |  | 9,329 |
2025 |  |  | 8,951 |
Thereafter |  |  | 39,459 |
Total |  | $ | 81,274 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration